Old Reports -> General Ledger -> Budget Performance

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Bug

1.The Period Lookup is not working. It displays all accounting periods on the printed report.

2.Budget Performance figures for the year includes an extra month's budget figure. For example, it the total budget figure is entered as 120000 (10000 x12), the total is displayed as 130000 (13 periods) instead of 120000 (12 periods). The budget report on the T-Account Viewer is displayed correctly.

Introduction

If budgets are entered correctly in the Edit → Accounts menu, TurboCASH will be able to display the actual income and expenditure against the Budgeted figures, if selected. This will give you an indication of how your business is performing.

This report shows the actual figures you achieved versus the budget figures you aimed to achieve. You can use this report as a valuable tool to see that the income you expected to generate and the actual sales is exceeding your expectations, or for example, whether your sales team have not met the target for the month. If your expenses are more than your budgeted figures, you may look at the spending pattern, or may need to curb some spending. The factors are different to each and every business' own situation. The variances need to be analysed and proactive steps taken to address the variances.

These budget figures can also be viewed as comparative figures on the Income Statements and User Reports.

Print Budget Performance Reports

To Generate a Budget Performance Report:

1.Click on the Tools  → Old Reports → General Ledger → Budget Performance menu.

The Budget Performance Options screen is displayed:

2.Send Report to - Select the output method (screen, printer, file, e-mail or fax).

3.Select the following options:

a)Sequence - You may select the selected accounts to be listed or displayed according to Account No., Account Description, Account Type, Account Group 1 or 2 (Reporting Group 1 or 2).

The description of Account Group 1 or 2 you have entered on the Reporting Group Name field on the Account Groups tab on the Setup → System parameters → Groups menu, may be reflected in this list.

b)From Account ... To - You may select all your accounts, a specific account, or a specified range of accounts, to be included in this report.

c)From date ... To - You may select the start and end period to be included in this report.

d)Show Sub-accounts - If this field is selected, all selected accounts containing sub-accounts will be listed for which you have entered the opening balances or transactions. If this field is left blank, all selected accounts containing sub-accounts will display summarised totals or balances for all the sub-accounts for a specific main account.

e)Include Zero Balances - If this field is selected, all accounts listed in your chart of accounts will be displayed and balances will only be displayed for those accounts with transactions. If this field is left blank, all selected accounts with transactions and balances will be displayed.

4.Click on the OK button to send the report to the medium selected in the Send Report to field.


View Budget Performance Reports

The following is an example of a Budget Performance report:

The details of the Budget Performance report will display the account code and name as headings, as well as any opening and closing balances for each selected account. The information is displayed in five (5) columns as follows:

1.Accounting Period - This is the accounting periods as set up in the Setup → System parameters → Reporting Dates menu.

2.This Year - These figures would include the batches (Sales Journal, Purchase Journal, Receipts Journal, Payments Journal, Petty Cash Payments Journal, etc. or any other batch type in which transactions were entered) which was posted to the ledger. If any documents (Invoices, Credit Notes, Purchase and Supplier Returns documents) were updated to the ledger and Point-of-Sale Invoices for which the Shift is closed, the actual transactions would be included.

3.Budget - This is the budget amount which is entered in the Edit → Accounts menu.

4.Variance Amount - This is the amount of the difference between the transaction amount in This Year column and the Budget amount in the Budget column.

5.Variance Percentage - The difference between the transaction amount in This Year column and the Budget amount in the Budget column, is displayed as a percentage.

Income Accounts should reflect a credit figure and expense accounts should reflect a debit figure in This Year and the Budget columns.


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